The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-09-12
AFFAIRS OF THE RAILWAYS.
Receiver Wanted for the O., III. s. ID.


CINCINNATI Sept. 1L-Yesterday afternoon,
at Hamilton, Butler county, Ohio,sa petition
was fled with the clerk Of the Common Pleas
Court, asking that receiver be appointed to
take charge OF the Cincinnati Hamilton q Day
ton Railroad Company. George K Duckworth.
the plaintiff, states that he is the owner of $50
shares of common stock in the Cincinnati, Ham
Ilton e. Dayton railway. of 800 par value.
The plaintiff says, further, that in January.
1887, the stockholders OF said road authorized a
further issue of 81. 600, 900 of bonds, to be
cured by mortgage upon the road, and in the
month of June, 1887. authorized further issue
Of $500, 900 of bonds said bonds to be sold and
the proceeds expended in purchasing equipment
for the road, and Sept. 10, 1886. the stock
holders authorized the issuance of $40. O00. 600 of
preferred stock for the purpase of taking up the
bonds and stock guaranteed by the road. but
afterward was resolved to sell the 80 000, 900
of preferred stock and use the proceeds for the
general purposes of the road and that the presi-
lent and vice president by virtue of their office,
and as fiscal agents for the road, were author
lzed to sell the bonds and stock; that from and
after June 90 1886, all the earnings of the road
being sent to II. D Ives 81 Co. of New York,
said 81. s. Ives and George H. Stayner used said
proceeds and said moneys coming INTO
FOR their own purposes entirely, and not
For the purposes of the road, and that they sold
$780, 900 of preferred stock authorized to
be Issued as aforesaid, and used the proceeds en-
tirely for their own purposes. and not Tor the
purposes of the road. The plaintiff further
Jtates that G. G. Waite has been the second
vice-president and manager of said railroad
company from June 1886. to the present time,
june Is 1856 stu hi. a'f salary as wss per
annum; that said salary was increased
during the succeeding year, on three several oc-
casions until he receiving the sum of $25.-
g performing
same services for which, the year before. he re-
ceived only Sc, 600. and that this to the knowl-
edge of the board of directors of said railroad
company; that said directors of said corporation
have been guilty of negligence fraud
ulent management of the affairs of the corpora
ton; that account of said management the
corporation is either insolvent on the verge Of
insolvency, and will be compelled TO discon tinue
the business for which il was organized. unless
il is taken out of the hands Of the present man
sgement aud 1t is necessary. i'll order to pre-
serve the property OF the corporation and the in
terests of the holders of the common stock of
said corporation and the creditors of said cor
poration, that q receiver be appointed.
Freight Traffic High Tide.
The train records show that total of %. 638
sars were received and forwarded at Indianapo-
lis in the week ending Sept. TO- which is ,054
more than were handled in the week preceding,
B84 more than in the corresponding week, 1856,
and ], III more than in the CORRESPONDING week.
movement of grain and -four for export, and of
lumber for sea-board points, while west-bound
the tonnage is heavy beyond parallel. Railroad
supplies continue to go forward in considerable
quantities, and the shipments of coke and coal
are on the increase daily. but the largest west
bound movement is made up of merchandise,
largely dry goods and fancy notions. The
tonnage of sugars is also large The way-bills
show that there a large number of new
shippers who are opening stores over the West
and Southwest, and that many oidestablished
merchants are choosing the more direct and ex-
pedtious routes to ship their goods over from
The East. North and-south roads doing a
good business, finding service for all their equip
ment, and on many roads they are unable to fill
the orders for cars. Local business is improv-
ing Coal, of course, cuts important figure
with a number of the roads. Then there is a
large movement of livestock. AT some of the
city depots the force has been increased, while
others they are working over time The vol
ume of business is highly satisfactory all
roads, and the freight in sight makes it evident
that the business of the fall is to be largely in
ex of that of last year. Below is given the
NUN Der of received and forwarded at In
lianarolis last week, compared with the cor
weeks of 1886 and 1885,